7 redenen waarom China een goede plek is voor lange-termijn Alpha
Volgens BNP Paribas Asset Management zijn er volop redenen om te veronderstellen dat de Chinese aandelenmarkt de plek is om lange termijn alpha te behalen.
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A Fertile Ground for Long-Term Alpha
In these extraordinary times the investment potential in Chinese equities remains extraordinary. This might sound debatable given current global uncertainties, but at BNP Paribas Asset Management, we believe the long-term growth prospects of the China’s vast, diverse equity markets and a steady move towards sustainable, quality growth …
Why we think it’s too early to be cautious on equities
Value stocks outperformed momentum by almost 30% in November, but then gave back a third of this by the beginning of 2021 (Figure 1). Is the Georgia vote and Democrat win in the Senate the catalyst that reverses this? US investors did not think Senate control would switch to the Democrats, yet former president Donald Trump alienated centrist votes with allegations of stolen …
It is time to look at the future of #Equities – Research Highlights
With the S&P 500 already gaining around 4.27% year-to-date while COVID-19 still lingers through the western world and the U.S. economy shrunk by 3.5% in 2020, it is time to look at the future of equities.
A not-so-great rotation in developed market equities
A not-so-great rotation in developed market equities Equity investors, quite rightly, remain resolutely focused on the positive, medium-term outlook for corporate profits rather than the near-term economic challenges. In our view, the economic recovery and rebound in inflation will drive
Why we think it’s too early to be cautious on equities
Why we think it’s too early to be cautious on equities Macro outlook | February 2021 Value stocks outperformed momentum by almost 30% in November, but then gave back a third of this by the beginning of 2021 (Figure 1).
Columbia Threadneedle Investments – Webinar – Resurrection of a deplorable asset class!
Webinar – Resurrection of a deplorable asset class! Join us on Tuesday, 9 February at 13:30 GMT / 14:30 CET as Richard Colwell (Head of UK Equities) and James Thorne present their views on the current market environment for UK Equities. Also joining will be Sonal Sagar who will look at
UBP’s small- and mid-cap capabilities
In recent weeks, investors were relieved by the positive newsflow around the successful COVID-19 vaccine trials and subsequent implementation of roll-out programmes. However, experts agree that the positive effects on the recovery and getting back to “normality” is not likely to happen before the end of this year. As 2021 looks like a bumpy road, many investors are willing to increase equity risk and directionality, subject to selectivity.
Introducing the Capital Group European Opportunities strategy
Capital Group European Opportunities (LUX) will be available to investors in Asia and Europe with its launch as a Luxembourg-domiciled fund in February 2021. The fund will offer access to a longstanding European equity strategy, originally launched as a segregated account in 1992. The fund will be managed by …
Finding Deeper Value in Emerging Markets
Value funds—whether global, developed, or emerging—encountered a major style headwind in 2020. Globally, economy‑sensitive value stocks underperformed during the coronavirus pandemic, which was to be expected. Value companies tend to be in traditional sectors that need growth in real economic
Gains Still to Be Found in Global Equities
Seizing the opportunities that higher volatility and mixed news flow will create. Equity markets delivered extraordinary returns in 2020, but the first quarter of 2021 will certainly test investors, given the return of uneven and contradictory news flow. Expectations of
BNP Paribas AM – Webinar – A Focus on China
Webinar – A Focus on China The Great Instability The Great Instability virtual event series continues into 2021 and BNP Paribas Asset Management is delighted to invite you to join us for the first episode. On 28 January, we host
Welcome back Ms Yellen!
Recent news about the COVID-19 pandemic has been worrying, with more contagious strains of the virus spreading internationally, rising contamination rates, and healthcare systems on the verge of being overwhelmed, particularly in the UK and the US.
T. Rowe Price – Webinar – China: de ruwe diamant polijsten
Webinar – China: de ruwe diamant polijsten China’s snelle binnenlandse en geopolitieke ontwikkelingen en de ruwe diamant van beleggingskansen, verdienen aandacht van beleggers. Tegelijkertijd is China echter nog steeds ondervertegenwoordigd in indices, kent het een volatiele interne markt en de
In the money: Financial exchanges hit the sweet spot
Financial sector headlines are often dominated by banks and insurers. But there is one area that has emerged as a steady grower and dividend payer: financial exchanges. Exchanges’ gains contrast against steep declines in the broader financials sector, where traditional banks in particular have grappled with ultra-low rates and a slowing global economy. Over the …
Equities look set for a positive 2021, however, risks linger (Podcast)
Equities look set for a positive 2021: last year’s themes and secular change should persist with support coming from factors such as dovish monetary policies. However, risks linger, not least those related to the pandemic. Overall, this constellation makes for a stock pickers’ market, argues Guy Davies, CIO of Equities.
Factset Earnings Insight
The estimated (year-over-year) earnings growth rate for the S&P 500 for CY 2021 is 22.1%, which is above the 10- year average (annual) earnings growth rate of 10.0%. If 22.1% is the actual growth rate for the year, it will
The Hazards of Asset Allocation in a Late-stage Major Bubble
The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe this event will be recorded as one of the great
2020 – the year of living dangerously
Uncommon truths 2020 – the year of living dangerously Our list of 10 surprises didn’t envisage the global pandemic that dominated 2020. Even so, we had some successes and cyclical assets did well. We expect that to continue in 2021,
The Sanitary Situation Deteriorates
Market Flash Falling temperatures have exacerbated the global sanitary situation. In Europe, Germany and the UK reinforced restrictions. Cases have also started rising again in Asia, a worry for Japan and South Korea which had managed to control the first
Improving fundamentals are likely to be sustained
China Market Outlook 2021 Thanks to its rapid control of the coronavirus, China is the only major economy that is expected to post positive economic growth this year, according to the Organization for Economic Cooperation and Development, which recently raised
For Investors in Japan, the Outlook Appears Suga Sweet
T. Rowe Price Insights on Japan Equities Four reasons to be bullish about the Japan investment outlook. Japanese equities are well placed to excel in 2021, in our view, with various factors underpinning our positive outlook, heading into the new year.
A bizarre year of win-lose outcomes in Asia Pacific ex Japan
If I were to sum up Asia ex Japan equity markets in 2020, it would be the pain of negative headwinds followed by the triumph of human ingenuity and determination in rising above them. This perhaps seems too optimistic a
European equities: the peak of pessimism is behind us
There are reasons for optimism in 2021. Forget a U-shaped recovery; the letter we look for in 2021 is V, which stands for vaccine. Our baseline scenario is that vaccines roll out across Europe in early 2021, allowing business and
Europese aandelen in 2021 Sterke steun
Aandelenmarkten lopen vooruit op het economisch herstel in Europa, al is de omvang nog onduidelijk. Beleggers zullen in de eerste helft van 2021 nog geconfronteerd worden met extra volatiliteit, ondanks het positieve nieuws over coronavaccins. Wél zijn er duidelijke pluspunten
Us Equities: Two Major Themes In A Stabilising Economy
With the prospect of early access to effective vaccines getting steadily stronger, the major question for investors in US equity markets is how to position their portfolios for an economy returning to normal after the Covid-19 shock? This question begs
Style rotation towards value is a temporary phenomenon
At the end of the global financial crisis in 2009 we saw a sugar rush within markets, specifically for a couple of quarters from March that year where economy-sensitive stocks performed very well. This is being mimicked somewhat today. When
No alternative to equities
European Gazette | Autumn 2020 While political risk, a second Covid-19 wave, lower economic activity and suppressed inflation might trigger a short-term sell-off, in the medium term a high equity risk premium and low rates will support equities After a
Seizing the new reality
Outlook 2021 Fidelity International’s outlook for the global economy, multi asset, equities, fixed income and real estate If you are reading this, then you’ve lived through one of the most volatile periods in market history. The year to come may
Asia ex‑Japan: Constructive Outlook for Equities in 2021
T. Rowe Price Insights on International Equities High‑quality growth businesses on reasonable multiples. Our views remain constructive on the medium- to longer-term outlook for Asia ex‑Japan equities. Even as global growth may be slower to recover than earlier hoped for,
Riding Europe’s building renovation wave
European equities | December 2020 The EU’s decision to put building modernisation at the heart of its drive to reduce CO2 emissions heralds a major spending programme to transform energy efficiency. It also represents a wider drive across the continent
Legacy of the Lockdowns – Outlook
In our 2021 Investment Outlook, we seek to help investors navigate the next phases of the pandemic, the legacy of the lockdowns, and the ensuing economic recovery. We also consider how solutions to the climate crisis can be found at
CIO outlook: Time for Healing Q4 2020
After contending with the terrible human and economic toll of a pandemic, as well as market volatility reminiscent of the financial crisis, investors could well be forgiven for wondering anxiously: what could 2021 possibly have in store for us?
Navigating Extended Periods of Market Volatility
In an environment marked by rapid market swings, investors looking to consistently outperform will have to increase their emphasis on downside protection while maintaining their upside participation.
Why the Future Now Looks Brighter for Value Investing
T. Rowe Price Insights on Global Equities The growth versus value style debate intensified as the dominance of “growth” accelerated during the coronavirus pandemic. Value investing has remained deeply out of favor, but we sense the dynamics are changing and
2020 Q4 Capital Market Assumptions
To build the income component of our long-term equity forecasts, we calculate each country’s expected income contribution, based on current and anticipated levels of dividend yield, as well as the expected returns attributable to buyback activity (positive) or net positive
Biden Win Might Bring Mixed Outlook for Investors
T. Rowe Price Insights on the U.S. Election Democrat Joe Biden’s policy proposals as the next U.S. president (pending the outcome of potential legal challenges) could have mixed implications for investors if implemented, according to T. Rowe Price investment professionals. On
Finding Opportunities After the Rebound
T. Rowe Price Insights on Global Markets Our portfolio managers see selective potential in a range of asset classes. Even for those of us who saw reasons for hope this past spring, the market’s resilience in the face of the
Five Reasons Why Investors Should Now Consider Small‑Caps
"Investing in small‑caps today may give investors with a long-term investment horizon the opportunity to join the journey of some of tomorrow’s most successful businesses at an early stage." — Yoram Lustig Head of EMEA Multi‑Asset Solutions
Divided government likely would produce moderate policies.
“While capital markets appeared to have reacted positively to these results, the postelection transition creates a potential for market volatility.”
2021 Investment Outlook
"Marked by the most severe recession in modern history, 2020 was an unprecedented year. With the global pandemic continuing, we enter 2021 with a mildly positive outlook for the upcoming recovery, but with the assumption that the path to pre-crisis
Vaccines shape 2021 outlook
"We still like high yield for income. On a tactical horizon, we strongly prefer high yield for its income and more room for spread tightening. We are neutral on IG and underweight emerging market debt."
Why pension funds should be allocating to European banks
"With deficits growing and the outlook uncertain, finding yield and assets that will benefit, rather than suffer, from the current policy response, is a growing problem. We believe cocos fit the bill for these issues."
UBP – Webinar – The case for Japanese equities – Why now?
Webinar – The case for Japanese equities – Why now? Abenomics have had some long-lasting effects on the Japanese economy. The key winners from Abenomics are : -The Domestic consumption growth that is resuming -Capital expenditure that is restarting after
Finding Alpha in an Increasingly Concentrated U.S. Market
T. Rowe Price Insights on U.S. Equities How the rules of investing in the large‑cap growth space have changed Amid the wider performance of the U.S. equity market, one particularly astonishing statistic is that the top 10 stocks in the
Convertible Bonds: A Strategic Allocation
"Convertible bonds historically captured over 65% of equity upside but suffered only 50% downside"
October started strongly but ended weakly as Covid concerns rose again.
"After all, it is difficult to determine which election outcome the market had priced in, when and with what probability. "
Recovery enters a Second Phase
The Investment Clock: "Recovering: After a plunge into recession, economic data started a rapid pick up from March in China and May/June in Europe and the US as social distancing eased. Retail sales have recovered particularly fast in the US
Global Market Outlook
As markets continue to ponder the US Presidential election result, a surge in COVID19 cases across Europe has led to a darkening near-term outlook. How things play out in the US—from a political and virus perspective—is still uncertain, but another
Japan has new leadership but it’s the same stock pickers’ market
Investment Insights Japan has a new leader: Yoshihide Suga, who replaced his ally Shinzo Abe, the longest-serving prime minister in the country’s history, in September. We asked Akira Horiguchi, co-principal investment officer on the Capital Group Japan Equity strategy what
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"Has the tide finally turned for #emergingmarkets #equities after a decade of trailing #US markets? It’s a question we often hear." 5 reasons why EM equities could power ahead in #2021 by @CapitalGroup -> https://www.opiniopro.com/2021/02/capital-group/5-reasons-why-em-equities-could-power-ahead-in-2021/
The underperformance of Value vs. Growth stocks explained
From the winter edition of our VBA Journaal, written by Jeroen Kakebeeke RBA, Investment Risk Manager at PGGM
#valueinvesting #growthinvesting
https://nieuws.cfavba.nl/publicaties/the-underperformance-of-value-vs-growth-stocks-explained/4a37e54d-5361-11eb-8a1e-005056b303d3
Reflation, Flation, What’s Your Nation? https://www.etftrends.com/model-portfolio-channel/reflation-flation-whats-your-nation/ #ETF #tracker
